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Bitcoin Currency Surpasses 20 National Currencies In Total Value
Velcroman1 writes "More than $1 billion worth of bitcoins now circulate on the web – an amount that exceeds the value of the entire currency stock of small countries like Liberia, Bhutan, and 18 other countries. Bitcoin is in high demand right now — each bitcoin currently sells for more than $90 U.S. — which bitcoin insiders say is because of world events that have shaken confidence in government-issued currencies. 'Because of what's going on in Cyprus and Europe, people are trying to pull their money out of banks there,' said Tony Gallippi, the CEO BitPay.com, which enables businesses to easily accept bitcoins as payment. 'So they buy gold, they put it under the mattress, or they buy bitcoin,' Gallippi said."
Pretty much, or at least potentially. Figuring out when to profit on irrational fear is a good key for success ^_^
Borrow some bitcoin, sell it now, wait for the inevitable, buy it back when the bubble pops, return to owner.
claiming it is being widely used for every day living. I have yet to see anything to back up either extreme.
Let me know when I can pay my rent in bitcoins, pay my fuel bill in bitcoins, or buy groceries in bitcoins.
For now it is a geek-only way to exchange goods and services.
//TODO: Think of witty sig statement
So could tulip bulbs, you better go get some quick.
Enron's stock went up too. You might want to think about the fundamentals of what you're buying.
Tired of Political Trolls? Opt Out!
Reminds me of what people told me about investing in Enron.
Change is certain; progress is not obligatory.
Bitcoins have less inherent value than a bag of tulip bulbs.
Try sending payments across the globe in 10 minutes using tulip bulbs.
Escher was the first MC and Giger invented the HR department.
No that's the problem with gambling. And if you won it would bolster your confidence and you'd bet it all again. Speculative markets are nothing but high stakes gambling.